BridgePort Financial Solutions LLC Invests $381,000 in Verizon Communications Inc. (NYSE:VZ)

BridgePort Financial Solutions LLC purchased a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,808 shares of the cell phone carrier's stock, valued at approximately $381,000.

Several other institutional investors have also recently added to or reduced their stakes in VZ. NCM Capital Management LLC boosted its stake in Verizon Communications by 1.4% in the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier's stock worth $735,000 after purchasing an additional 245 shares in the last quarter. Kirtland Hills Capital Management LLC increased its holdings in Verizon Communications by 2.4% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier's stock worth $439,000 after acquiring an additional 252 shares in the last quarter. JB Capital LLC grew its holdings in Verizon Communications by 1.3% during the 4th quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier's stock valued at $832,000 after buying an additional 258 shares in the last quarter. Curbstone Financial Management Corp grew its holdings in Verizon Communications by 0.8% during the 4th quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier's stock valued at $1,391,000 after buying an additional 262 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in Verizon Communications by 9.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,915 shares of the cell phone carrier's stock valued at $117,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Trading Up 1.3%

VZ traded up $0.56 during mid-day trading on Friday, hitting $43.89. 7,294,654 shares of the stock were exchanged, compared to its average volume of 23,222,061. The firm's fifty day moving average is $43.56 and its two-hundred day moving average is $42.18. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a current ratio of 0.63, a quick ratio of 0.59 and a debt-to-equity ratio of 1.21. The company has a market cap of $185.03 billion, a PE ratio of 10.60, a PEG ratio of 4.45 and a beta of 0.39.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The firm had revenue of $33.50 billion for the quarter, compared to analyst estimates of $33.31 billion. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 7,500 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $43.88, for a total transaction of $329,100.00. Following the sale, the chief executive officer now owns 19,008 shares of the company's stock, valued at approximately $834,071.04. This trade represents a 28.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 21,500 shares of company stock valued at $938,400 in the last quarter. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on VZ. Scotiabank raised their price target on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 23rd. Oppenheimer lifted their target price on Verizon Communications from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Royal Bank of Canada reiterated a "sector perform" rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Evercore ISI upgraded Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price for the company in a research report on Friday, April 11th. Finally, Tigress Financial lifted their target price on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.41.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).